During Sony's PlayStation Day press event in London yesterday, Sony Computer Entertainment president and CEO Kaz Hirai discussed the company plans for its social world, Home, promising to open the service to the public "towards the end of the year," a comprehensive live report of the proceedings from UK-based site Eurogamer.

Home provides PlayStation 3 owners with a full-scale virtual world, allowing gamers to customize avatars and apartments, share gaming achievements, and socialize with others. Sony plans to add advertisements and lobbies with partnering retailers, as well as purchasable content, such as clothes, furniture, or larger apartments.

Previously, the virtual world was scheduled to open in late 2007 before Sony put off its launch to Spring 2008, citing "user feedback" for the delay. Sony later extended the delay again last month to Fall 2008, noting that the company needed to spend more time in development with Home. The service is currently under closed beta testing.

Commenting on Home's unspecified release date for this year, Hirai stated, "As great as it currently is, it needs a little more time."